REIWA has reported that the median rent per week has dropped 2% to $450 in the metro area over the last three months to April. The vacancy signs are out for 4% of properties which seems to be resulting from an extra 5000 rental homes on the market.
What is most surprising is that compared to last year, there are 56% more available rentals in the market. The RBA also announced this week that they will continue to leave interest rates at the same rate as the last few months.
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